From Nasdaq OMX Group:



The article discusses the challenges faced by Microchip (MCHP) due to a slowdown in business across most end markets, a macroeconomic environment, and high inventory levels with end customers. The company has paused internal capacity expansion and expects a decline in revenues for the next two quarters. The article also highlights four better bets for 2024 based on favorable growth scores and Zacks ranks, including Vertiv (VRT), Dropbox (DBX), Okta (OKTA), and NVIDIA (NVDA). These companies are seeing positive developments and higher earnings estimates. The article also promotes Zacks Investment Research’s top stock picks for 2024.



Original: Forget Microchip (MCHP), Usher in 2024 With These 4 Top-Ranked Techs